MUFG Securities EMEA plc Buys Shares of 42,400 FirstEnergy Corp. (NYSE:FE)

MUFG Securities EMEA plc bought a new stake in FirstEnergy Corp. (NYSE:FEGet Rating) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 42,400 shares of the utilities provider’s stock, valued at approximately $1,944,000.

Other institutional investors also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in FirstEnergy by 15.9% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 16,830 shares of the utilities provider’s stock valued at $772,000 after acquiring an additional 2,308 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of FirstEnergy by 5.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 99,266 shares of the utilities provider’s stock worth $4,552,000 after buying an additional 5,561 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of FirstEnergy by 2.0% in the first quarter. Private Advisor Group LLC now owns 25,462 shares of the utilities provider’s stock worth $1,167,000 after buying an additional 496 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of FirstEnergy by 53.9% in the first quarter. Independent Advisor Alliance now owns 10,415 shares of the utilities provider’s stock worth $478,000 after buying an additional 3,646 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of FirstEnergy by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,885,158 shares of the utilities provider’s stock worth $119,994,000 after buying an additional 83,142 shares during the last quarter. 87.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. StockNews.com cut shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Wells Fargo & Company decreased their price target on shares of FirstEnergy from $49.00 to $44.00 and set an “equal weight” rating for the company in a report on Thursday, July 28th. Barclays decreased their price target on shares of FirstEnergy from $49.00 to $41.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Morgan Stanley raised their price target on shares of FirstEnergy from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd. Finally, KeyCorp reduced their target price on shares of FirstEnergy from $51.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, July 19th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FirstEnergy presently has an average rating of “Hold” and an average price target of $45.75.

FirstEnergy Trading Down 1.5 %

Shares of FirstEnergy stock opened at $41.15 on Wednesday. The stock has a market cap of $23.51 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 2.71 and a beta of 0.44. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.75 and a quick ratio of 0.66. The firm has a fifty day moving average price of $39.49 and a 200 day moving average price of $41.68. FirstEnergy Corp. has a 1 year low of $35.32 and a 1 year high of $48.85.

FirstEnergy (NYSE:FEGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The utilities provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. FirstEnergy had a net margin of 11.78% and a return on equity of 15.13%. During the same quarter last year, the firm earned $0.59 EPS. Equities research analysts predict that FirstEnergy Corp. will post 2.41 earnings per share for the current year.

FirstEnergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 5th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, August 4th. This represents a $1.56 annualized dividend and a yield of 3.79%. FirstEnergy’s dividend payout ratio is presently 63.41%.

About FirstEnergy

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FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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